Securian Asset Management Inc. Cuts Stock Position in Onto Innovation Inc. (NYSE:ONTO)

Securian Asset Management Inc. lowered its holdings in Onto Innovation Inc. (NYSE:ONTO) by 2.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,730 shares of the semiconductor company’s stock after selling 100 shares during the period. Securian Asset Management Inc.’s holdings in Onto Innovation were worth $622,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Kestra Investment Management LLC purchased a new position in Onto Innovation in the fourth quarter worth $26,000. Mather Group LLC. boosted its position in Onto Innovation by 209.4% in the fourth quarter. Mather Group LLC. now owns 164 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 111 shares during the last quarter. Versant Capital Management Inc lifted its position in shares of Onto Innovation by 532.4% during the 4th quarter. Versant Capital Management Inc now owns 234 shares of the semiconductor company’s stock valued at $39,000 after buying an additional 197 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Onto Innovation during the 4th quarter valued at $43,000. Finally, Berbice Capital Management LLC purchased a new position in shares of Onto Innovation during the 4th quarter valued at $50,000. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on ONTO. Benchmark reaffirmed a “buy” rating and set a $230.00 price target on shares of Onto Innovation in a research report on Friday, February 7th. Oppenheimer dropped their price target on Onto Innovation from $275.00 to $240.00 and set an “outperform” rating on the stock in a research report on Thursday, February 20th. StockNews.com raised Onto Innovation from a “sell” rating to a “hold” rating in a research report on Thursday, February 27th. Stifel Nicolaus dropped their price target on Onto Innovation from $270.00 to $250.00 and set a “buy” rating on the stock in a research report on Friday, February 7th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $250.00 price target on shares of Onto Innovation in a research report on Friday, February 7th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $246.88.

Onto Innovation Stock Performance

NYSE:ONTO opened at $138.72 on Monday. Onto Innovation Inc. has a 52-week low of $121.47 and a 52-week high of $238.93. The firm has a market cap of $6.83 billion, a price-to-earnings ratio of 34.17, a PEG ratio of 0.89 and a beta of 1.29. The business’s fifty day moving average is $177.40 and its 200 day moving average is $182.83.

Onto Innovation (NYSE:ONTO) last announced its earnings results on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.10. Onto Innovation had a return on equity of 14.24% and a net margin of 20.43%. Equities analysts predict that Onto Innovation Inc. will post 6.26 EPS for the current fiscal year.

Insider Buying and Selling at Onto Innovation

In other Onto Innovation news, SVP Srinivas Vedula sold 827 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $205.00, for a total value of $169,535.00. Following the sale, the senior vice president now owns 15,223 shares of the company’s stock, valued at $3,120,715. This trade represents a 5.15 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Michael P. Plisinski sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $200.19, for a total value of $4,003,800.00. Following the completion of the sale, the chief executive officer now directly owns 215,492 shares in the company, valued at approximately $43,139,343.48. The trade was a 8.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 85,827 shares of company stock valued at $18,182,185 in the last 90 days. Corporate insiders own 0.72% of the company’s stock.

Onto Innovation Company Profile

Onto Innovation Inc engages in the design, development, manufacture, and support of process control tools that performs optical metrology. The company offers lithography systems and process control analytical software. It also offers process and yield management solutions, and device packaging and test facilities through standalone systems for optical metrology, macro-defect inspection, packaging lithography, and transparent and opaque thin film measurements.